S&P 500 reaches 2420 target

June 5, 2017 02:13 PM

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The S&P 500 futures have closed higher 10 out of the past 11 days and today they are down just one point so far. You could argue that the stock indexes are in a major breakout mode. Granted they have rallied a lot already, but on a weekly and even monthly chart, some very key resistance levels have been broken as a sign a major strength. Since this completely uncharted territory by any traditional means, I will revert to following my overbought and oversold indicators to wait to see a potential time of buying exhaustion. I don't quite see that yet.

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